My ex-wife has always had issues managing money (mostly spending out of control and endless get rich quick scams) - which is partially why we divorced. As a result, she's had home foreclosure, bankruptcy, eviction (twice, I think), and other fun things that our children had to deal with. Another consequence is a truly horrible credit score. I seriously don't think it can go any lower.
It seems like she's finally hit the rock bottom late last year and seemed to have gotten her act together. It's possible that change came about because she's run out of people to borrow money from, but who knows. The bottom line is that she wants to rebuild her credit. But to rebuild credit, it helps to have credit. As you can imagine, she can't get any credit at all (banks, department store, etc...).
So my ex asked me to cosign on a credit card for her - and she swears up and down that it's gonna be different - just needs a chance to succeed. I am not going to do it.
So how can a person that's at the very bottom of the credit score hierarchy climb their way out of it? Is there some type of low maximum, high interest that is available to people like that? Some other way?